Ripple CEO’s attorney to resign as counsel on XRP lawsuit against SEC

Nicole Tatz, an attorney for Ripple Labs Inc. Chief Executive Officer Bradley Garlinghouse, has applied to withdraw as the co-defendant’s counsel in his ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC).

Fast facts

• Tatz submitted the motion to withdraw as counsel on Friday, saying other attorneys at the U.S. law firm, Cleary Gottlieb Steen & Hamilton LLP, will “continue to be counsel of record for Bradley Garlinghouse in this action.”
• Tatz said in another Friday court filing that she would no longer be associated with the law firm starting from Dec. 31.
• In December 2020, the SEC filed a lawsuit against Ripple and its executives, alleging the sale of XRP constituted an offering of unregistered securities worth over US$1.38 billion.
• The SEC named Ripple Executive Chairman Chris Larsen and Garlinghouse as co-defendants.